It’s amazing how everything becomes ten times more convenient when you can do it online. Luckily, most things nowadays can be done online. You can even get the emergency funding you need to go through a tough time online. Apply for title loans online today!
Max Cash Title Loans can help you find the quick funds you need through an auto title loan through our online title loan marketplace.5 We work with lenders who can conduct the entire qualification process online. That way, you never need to leave the comfort of your home.
Who Are Title Loans a Good Option For?
Title loans could be a good place to turn for funding for many different kinds of people from varying financial backgrounds. Title loans are good options for individuals with bad credit who might struggle to qualify for some more traditional installment loans.
Even though subprime borrowers can qualify for title loans, they tend to be far more affordable than other bad credit loan options like payday loans because they are secured. Title loans online are secured through the equity value in your car. This reduces the level of risk that poor credit can pose to lenders. This makes it possible for people to be approved regardless of bad credit. It can often make the interest rates more affordable than other bad credit loans.3,4
How Title Loans Work
Many people wonder how exactly title loans are secured. Luckily, it couldn’t be simpler. Lenders use the title of ownership for the car that belongs to the borrower and place a lien on it. This lien claims the car’s trade-in value as collateral for the amount of money borrowed.
The lender usually holds on to the title after the contract is signed. But, the borrower can drive off in their car and use it as they normally would throughout the duration of the loan as long as they keep making their monthly payments on time.
Once the borrower has made each payment until the balance is completely paid off, the lender will remove the lien from their title and return it to them as good as new, completely free, and clear.
No In-Person Vehicle Inspection Necessary
It is possible now to get auto title loans online without needing to go anywhere in person. That means it’s also possible to qualify for a title loan without an in-person vehicle inspection. Everything that needs to be done in the process can be done online!
Now, instead of an in-person inspection, most title loan lenders will accept pictures of your vehicle to confirm the details on your title and the car’s general condition. You must take a few pictures of your car from various angles in good natural lighting using your mobile phone before texting them in. No need to go further than the end of your driveway!
Getting Title Loan Online in Three Steps
When you use the help of Max Cash Title Loans’s convenient online title loan marketplace, the qualification process for title loans can be done in three simple steps. And yes, you guessed it, completely online! We will walk you through step-by-step, so you know what to expect and what information you will need to have ready.
Here are the steps to find out if you qualify for a title loan online:
Pre-Qualify Using Our Online Form
Firstly, with Max Cash Title Loans, you can see if you pre-qualify for a title loan before even deciding if it’s the right choice for you.5 That’s right, you can see if you are likely to qualify and how much you might be able to be approved for at absolutely no cost and with zero obligation.
Just use our online inquiry form and fill in a few basic facts about yourself. Enter your name, contact info, date of birth, and current income. Then, enter the car’s make, model, year, and mileage. Within a few minutes, you will know if you are pre-approved.5
Max Cash Title Loans wants you to be able to make an informed decision which is why we want to get you as many details as we can before you even decide to go through with a title loan for yourself.
Send Over Documents for Approval
Want to use one of the lenders we work with in our title loan marketplace? Secondly, you will want to take is to send in the crucial documents required for full approval.
This part of the qualification process can be done online also simply by scanning or taking pictures of the documents. You can get them to the lender simply by emailing them or texting them straight from your mobile phone.
The documents that you will be asked to provide include:
- Government-Issued Photo Identification
- Proof of Residence
- Proof of Income
- Clear Title of Ownership in Your Name
- A Few References
- Pictures of Your Car
As we mentioned above, the pictures of your car can stand in the place of the in-person vehicle inspection. The online inspection can make the process entirely online and more convenient than ever.
Get Approved and Receive Your Funds
Thirdly, once all the documents in your application have been reviewed, you will be notified if you have been approved for your title loan. Then you can find out how much you have qualified for. Lastly, you can review the contract and discuss any potential issues with your lender if the contract has been drafted.
After your contract and loan terms have been signed, you can get your funding. This can happen as quickly as the very next business day!1 You can choose how you receive your money depending on what is most convenient for you. Most title loan lenders offer multiple options to receive your money without the need to go anywhere. You could get a direct deposit or have it wired to you.
Finally, Max Cash Title Loans wants to equip you with all the tools you’ll need to not only find the title loan and lender right for you, but also succeed in paying off that loan promptly. With the right tools, you may have the chance to achieve a financial future that you can be proud of!